IRS 990-EZ Form for Round Rock Texas 2018-2025

IRS 990-EZ 2025 Form for Round Rock Texas: What You Should Know

A Quick Tip for Those with Business Income: The IRS recently updated its Form 990-EZ to allow businesses to use the same form to file their own forms. This change makes a tremendous improvement over previous Form 990-EZ guidance that stated only the 990-EZ had to be used unless the organization's purpose specifically called for a specific form (e.g., a Form 990, Schedule C, or Form 663). For example, if you are reporting small line-itemized net income to qualify for the Alternative Minimum Tax, the Form 990-EZ must be filed. If you were filing an annual 990, you would need Form 990-EZ. However, the IRS has decided that an organization is only required to use the 990-EZ if its purpose specifically calls for the Form 990-EZ. To prove this, you can use either the 2025 version of the original 990-EZ or another version that matches the purpose of your tax return. You can find the new guidance (for 2016) at IRS.gov/Newsroom/2016-22-22_IR-S-16-2286.html. When a business uses the same 990-EZ to file its own Form 990-EZ or uses an other version (e.g., other IRS publication), it is still considered to be a “business” and will be subject to the same requirements. As a result, the Business ID number and Social Security Numbers of the employees, shareholders, executives, other participants, and partners are not required to be filed separately until each Form 990-EZ is filed. As soon as the Forms 990-EZ are filed, however, the required information is provided in separate Form 990-EZ. The information provided in the separate Form 990-EZ reports only the tax paid. Any other information that the organization reports on each of its income tax returns must be provided individually. For organizations with a large enough revenue base to meet the requirement of providing the tax return to all persons required to file it (see the IRS “Use of Forms 990-EZ and 990-NPT” (26 CFR section 1.1351-4) and (26 CFR section 1.1351-10)), the organization can include a box that says “for this purpose” with the Form 990-EZ filing.

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